LTIS Operation

National Grid Transco PLC
23 March 2004

23 March 2004

National Grid Transco plc (NGT)

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Interests Notified by the Trustee for the
Lattice Group Long Term Incentive Scheme (the 'LTIS')

(Notification of Directors' Technical Interests,
Pursuant to Section 324(2) of the Companies Act 1985)

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NGT today received a notification from Mourant & Co. Trustees, as Trustee of the
Lattice Group Employees Share Trust operated in conjunction with the LTIS.
Following the exercise, and disposal or transfer, of 898 shares by participants
on 22 and 23 March 2004, the following Executive Director of NGT, Steve Lucas,
together with other employees formerly with Lattice Group, have a technical
interest in the remaining balance of 395,402 NGT shares held by the Trustee.

(Note: For Companies Act purposes, Steve Lucas is deemed to have a technical
interest in all the shares held by the LTIS Trustee, together with all
participating employees. The interest ceases when shares are transferred to
participants by the exercise of LTIS options.)

Contact: D C Forward, Assistant Secretary (020 7004 3226)




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